Property Valuation
An appraisal that values a property under the assumption that it will continue its current use rather than be converted to its highest and best use is known as a:
AMarket value appraisal
BValue in use appraisal✓ Correct
CInvestment value appraisal
DLiquidation value appraisal
Explanation
Value in use is the value of a property assuming a specific use — typically the current use — regardless of whether that is the highest and best use. It may differ from market value when the current use is not the highest and best use.
Related Tennessee Property Valuation Questions
- An appraiser adjusts comparable sales for time to account for:
- The principle of anticipation in real estate valuation means that a property's value reflects:
- Deferred maintenance affects appraisal value as a form of:
- A Tennessee appraiser determines that a comparable sale requires a net adjustment of +$8,000 and the adjusted sale price is $265,000. What was the original sale price?
- Absorption rate in real estate market analysis measures:
- Functional obsolescence in a property refers to:
- In the sales comparison approach, an appraiser makes a negative adjustment to a comparable sale when:
- When an appraiser uses the direct comparison approach, the final value indication is most influenced by:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →